NOW: #BloombergInvest: Focus on Africa begins! On the future of Kenya: The Kenyan economy contracted by 5.7% in the second quarter after Covid-19 decimated the countrys tourism sector. We have persuaded them to open up not for an office in Nairobi. We explore the key issues surrounding investing in the continent at #BloombergInvest: Focus on Africa 5/17. Bloomberg Invest Global will convene the biggest names across finance, economics, and investing from Asia, the Middle East, Africa, Europe and the United States to share their advice for dealing with the most pressing financial crisis since the Great Depression. Bloomberg Invest: Focus on #Africa is happening next Tuesday, May 17. May 17th, 2022, 1:28 PM PDT. then this is coming at a time when the continent has come together and said can we promote cross-border trade. Join the Bloomberg Invest: Focus on Africa experience. The challenging path ahead for UBS and its presumed CEO-in-waiting, Iqbal Khan. The world must come together to discuss Africas recovery and how to finance its needs. November 24, 2020 November 24, 2020 1:00 - 4:00 pm Central African Time (GMT+2) Join Bloomberg Invest Africa to see finance, politics and business leaders chart a way forward to attract foreign investors and maximize Africa's post pandemic growth trajectory. Here's some of my latest for Bloomberg News: The love of vintage Ford, GM, Dodge, Ram and Toyota trucks runs deep. Elsewhere in the conversation, Pimenta discussed the regulation required to make the process work, stressing the need to keep the rules up to date. Bloomberg Invest: Focus on Africa Business, Finance, Thought Leadership May 6, 2022. They need to means that the advantage December 4, 2020 Event Highlights Bloomberg Invest Africa By Yazhou Sun, Bloomberg Live Covid-19 and its subsequent lockdowns have sparked Sub-Saharan Africa's first recession in 25 years. International Finance Center. cluster in every sector where it needs agriculture. capital markets that investors see the opportunities that Africa and let's say investors reposition themselves. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world, Bloomberg Invest: Focus on Africa to any gauge and involved with the Commonwealth has 54 countries. Look at Rwanda. our health and we we can also develop our oil and gas. the private sector lead. And that is why we think that's what You want to have said we have very good agricultural potential. presenting and particularly given that the world seems to be the setting itself. , the Minister of Digital Economy and Digital Transformation in Togo, discussing the countrys Novissi platform, which offers contactless emergency cash transfers. Ford pointed out that returning humanitarian investments to pre-pandemic levels is one of the governments crucial goals. Africa can bounce back, he pointed out. We have build an asset base of nearly 13 billion dollars. s assessment regarding Kenyas infrastructure advances. two or three factories in the African country that's all that we are asking for. Why don't we sell copper But the Bloomberg News on LinkedIn: Bloomberg Invest: Focus on Africa | 59 comments The governor compared the current situation to 2020, saying that Ghana saw a rise in growth during 2021. Young adults in the US trail their predecessors when it comes to reaching key life milestones. On this week's episode of Idea Generation, designer, artist and entrepreneur Marc Ecko takes us on a journey from his days as a young graffiti artist in New Jersey, to launching a $500 million brand in Ecko Unlimited, to creating the culture-defining Complex Magazine. We've been very lucky that Lawson also highlighted the countrys collaboration with Google, which is set to deliver the most advanced cable internet seen in Togo to date. Jarmakani added that while the Chinese bring major investments, they still have catching up to do, as the local African governments are still more used to European and American investors providing the funds. as regards food when it comes to Eddie Boy at the concentration of our nation. Asked about Africas biggest lesson from the Covid-19 pandemic. 30th May 2022 Bloomberg Invest: Focus on Africa Filed under: Corporate News Senior Partner, Tom Jeffes and Consultant, Oliver Rumsey recently had the opportunity to attend the Bloomberg Invest, Focus on Africa Forum at the impressive London Bloomberg headquarters. happening globally. But The rest is The conversation started with Peter BenHur Nyeko, the co-founder of Mandulis, discussing his companys use of biogas to deliver green energy. He explained that despite their name, mini-grids are not exactly mini in size, as were talking about sizable facilities that cover entire cities with several million inhabitants. infrastructure, energy security and structural reform will underpin the road map. for deliberation. Asked how he sees the role of the Central Bank in stabilizing the economy during these turbulent times, Addison said the role is very clear., We have a limited set of instruments, trying to manage liquidity, trying to manage interest rates, and thats what we have done in the last year or so, the Governor said, adding the country is trying to manage liquidity very tightly.. Millions of people have been pushed into poverty. , the Partner, Head of Africa at TPG Risesaid hes been waiting for a time like this. Africa has in natural resources or the extractive industries. So beat Europe into. Mr. Fernandes, I lived in Angola in 2010. Sponsors in DRC second largest bank in Rwanda and fifth largest bank in Uganda. we tell this story. Mihajlo Matkovic on LinkedIn: Bloomberg Invest: Focus on Africa And we are processing a large amount of the trade data, Gurunlian said. Divya Gokulnath, Co-Founder & Teacher, BYJU's and Byju Raveendran, CEO & Founder, BYJU's, share their views on digital tools for remote learning and investment in . Right. We take it from Togo, we expand it to the Register for insightful conversations around investment, infrastructure, energy, tech space and much more.. Mwangi's bank is the largest in Kenya, with over $10 billion in assets and with nine million customers. 19 of those countries being in Africa then trade and investment becomes viable. The region has enormous economic potential: a youthful population, burgeoning tech sector, rich natural resources, and fast-growing markets offer rewarding opportunities for investors and global businesses. Bloomberg Breakaway: Member Think Tank , the Group CEO of Distributed Power Africa, then discussed his companys approach to creating green energy, which relies mainly on g solar power. At Bloomberg Invest: Focus on Africa, we discuss actionable solutions for Africa to reimagine its future. that last twenty five years of very rapid growth no recession and 2 Covid hit is that to are a testament to that Africa ISE of agriculture. So how is that playing out. We ourselves. Explaining the massive expansion, Lalude singled out the development of necessary infrastructure as the first critical point and the Y Combinator Model as the second important factor. government policy. African nations. Biden administration. What will it take for investors to deploy their capital in the continent? So when you put all of their Michael Barr It has come with that we are leveraging on is that commitment by the government. require more liquid markets. May 24th, 2023, 8:20 AM PDT. We want to participate to participate in syndication. Every crisis creates an opportunity. What is this region doing to improve its infrastructure and logistics network? added that the governments next step is to make the Novissi platform a public good available to the entire continent. The conversation commenced with Cina Lawson, the Minister of Digital Economy and Digital Transformation in Togo, discussing the countrys Novissi platform, which offers contactless emergency cash transfers. This is a time to focus on infrastructure, power, industrialisation as well as our traditional mainstays of mining and agriculture. The impact of climate change worsens each year. One is heads in the sand, Gregory said, explaining this approach as ignoring the accumulating debts. Pimenta pointed out that his company is also looking for innovation and carefully following off-grids, mini-grids, and similar technologies. He added that importing up to 99% of vaccines for a population of over 1 billion makes it difficult to ensure the health security of the people. I mean everybody has to work together. This is what The second factor is that Africa takes up 60% of arable land. What will it take for investors to deploy their capital in the continent? team. Liz Lloyd, Chief Impact Officer, British International Investment At the beginning of the discussion, Sergio Pimenta, the Regional Vice President for Africa, IFC, noted that by 2030, the continent will need investments of around $150 billion per year to cover the gap that will still be there, and the level of investments is currently not even half of that. artificial intelligence will be a major part of bases of leap frog because we are not talking about existing manufacturing May 19, 2022 Bloomberg Invest: Focus on Africa May 17, 2022 Event Highlights By Bloomberg Live The Bloomberg Invest: Focus on Africa summit in London, UK, rounded up government representatives, ministers, CEOs, company founders, and thought leaders to discuss various aspects of investing in Africa. Africa brings a young population of one point to two Key Takeaways from Bloomberg Invest Africa - Day 2 It can lead to transformation using trade and investment. Prepare for the Superpowers of Pride. financials are in the financial sector. Digital transformation has leapfrogged in Africa as a consequence of the pandemic, and digital infrastructure is booming. Resilience Wellbeing Intervention Psychotherapist *DIGITAL |Techs Advocate I ROI Enthusiast I Community Builder I Humanitarian Spiritual Light Worker. Nigerdock and IFC on Africa's Infrastructure Gap - Bloomberg In many parts of Africa, roads, ports, railway lines and airports are in need of urgent repair. Wish You Could Be a Kid Again? Buying a Home in California Is Already Hard. So the use of technology can make up for a very competitive edge because of Bloomberg Invest: Focus on Africa - Millar Cameron Join us at Bloomberg Invest Africa as we convene regional and global finance and business leaders to chart a way forward to maximize Africas post pandemic growth trajectory. Moderator: David Malingha, East Africa Bureau Chief, Bloomberg, 9:30 AM BST Welcome Remarks, Bloomberg Host Contact, 2023 Bloomberg L.P. All rights reserved. Bloomberg Invest: Focus on Africa - YouTube , the co-founder of WomenWork and Principal at Asphalt & Ink, agreed with. Asked about the oil prices and whether she expects them to stay at similar levels in times to come, the Finance Minister said the government is taking the conservative approach and not basing its future on high oil prices. Including Angola, Chinas lending to Africa peaked in 2016, she added. RT @BloombergLive: The hunt for yield remains daunting amid recession fears and historic volatility. Be competing with others just broadly but competing on the basis of competitive advantage. Let's attract international capital to Kigali and then the CAC can facilitate. Political instability in some countries is rising. Nyongo Madison was then asked about the low percentage of women in the investment sphere, which is odd considering that females occupy a significant part of the continents leading economic positions. The pandemic diverted vital funds away from debt relief toward essential healthcare needs. Sergio agreed with Maher, saying that the limitations of fiscal space require private-sector investments to enter the mix. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and to show you relevant ads (including professional and job ads) on and off LinkedIn. We are talking about fertiliser. said the we have the right infrastructure. mobile technology Nairobi's to grow body. It wants to go to manufacture building materials We hear from the most innovative startups on the continent and look at their impact on development. Nyeko then touched on the payment methods and charging his customers, which are mostly farmers, for the companys services. Right. She called this move extremely powerful, saying she firmly believes it would transform Togo forever.. The second focusing on vaccine procurement and financing and the third pillar around preparedness and delivery. ones with us here all we want is that dialogue look like when you're talking with some of these investors coming on Nyeko then shared an interesting analogy involving airplanes and African villages. In conversation with Henrique Almeida, Bloomberg, 11:40 AM BST Building Africa At Bloomberg Invest: Focus on Africa. Political instability in some countries is rising. But its much more than that in the Bay Area. Looks like we are where we are because of differences in ideology. What about and in the West with with the Founder YES-Hub, IVLP Alumni || EU Delegation in Nigeria Youth Advisor on Governance & Peace || Project Manager || TEDx Speaker, Founder of children's magazine, publisher. The continents tech sector is booming. Suppose a vaccine was available today, how do you get that across the country in a speedy way, to the right population, and who is the right population? The regional economy is forecast to shrink by 5.1% in 2020 and GDP losses potentially hitting $236 billion. Lone agreed that the entire world had learned important lessons from the pandemic. But how do you actually At Bloomberg Invest: Focus on Africa. But that said, the Chinese have the ability to look long-term, to make changes that are appropriate for the business, bringing their technologies and capabilities to the Africant continent for long-term sustainability, he said. Nkengasong explained, Suppose a vaccine was available today, how do you get that across the country in a speedy way, to the right population, and who is the right population? Contemporary Amperex Technology Co. Ltd., the world's biggest electric vehicle battery producer, is joining Tesla Inc. and BYD Co. in adding a focus on the booming solar sector. The Minister was then asked about her goal of cutting down the astronomical costs of the internet in Africa, which reach almost 20% of income per capita. framework that needs to be so that little bit better. growing region anywhere in the world. , Were thinking about how do we help more people get on the internet? So We are saying we need to link with a group of markets essentially because of the private sector. It's a question of value addition or an African national resources on the continent. We have some international houses, even the IMF, saying that we will grow overall, but our expectation is to face a stagnation, but with the non-oil sector growing 2.1%., said they were reaching an inflection point after which they would hope to see growth. Can you believe digital currencies as well play into that to be part of this. off though the institutions and their companies operating in that region the transformation takes off. You have a village of about 500 homes, and thats probably the same amount of energy used in an Airbus A380.. We should be working to diversify those energy sources, Ford added. Moderator: Jennifer Zabasajja, Anchor, Quicktake, 12:00 PM BST 13:00 PM BST Networking Lunch, Africa, Americas, Antarctica Region, Asia, Australia and New Zealand, Europe, Micronesia, Consulting and business development, Financial services, Investment management. , said his book results from 15 years of travel across the country. Interested in more Bloomberg Live virtual events? percent of African fertilizer is becoming too much. That's true. We are not talking about specific countries. singled out the development of necessary infrastructure as the first critical point and the Y Combinator Model as the second important factor. State Farms Exit Makes It Harder. I have to start with this because you've been to London a few times over the past few months. Some governments plan to sell assets through a massive privatization program including factories and other manufacturing facilities, but who is buying these assets? Remember like we said we have seen with the mobile technology because Africa didn't have a lot Governments will be the investors. Philippines to Seek Operator to Maintain Manila Airport: Star, Iraq Is in Talks With Turkey to Resume Oil Flows From Ceyhan, ECBs Visco Says He Would Have Preferred More Gradual Rate Hikes, Charting the Global Economy: Business Activity Slows in China, Mauritius Expects Debt to Fall to 60% of GDP Before 2030, GM, Stellantis Pay Combined $363 Million for Missing Fuel Efficiency Targets. Responding to a question on when Angola expects to see a return to growth, , Minister of Finance, Angola said they expected GDP to stop dropping in 2021. If that region takes But while Africa is down, its definitely not out. Maher Jarmakani, Chairman and CEO of Nigerdock , Director, Africa CDC talked about a strategic plan with 3 pillars. John Copelyn, CEO of Hosken Consolidated Investments, cautioned the transition from fossil fuels to renewable energy wont happen overnight, and there are still many opportunities in deep sea drilling. It is more of attracting cluster a I mean that's still some of the issues that we're seeing some of these countries deal with. These development will require a lot of financing. We look at how the region can contribute to emission reductions and benefit from the dynamics of a global energy transition. At Bloomberg Invest: Focus on Africa 2022, we discussed actionable solutions for Africa to reimagine its future. Lawson added that the governments next step is to make the Novissi platform a public good available to the entire continent. We will convene corporate leaders, policymakers, innovators, and thinkers to explore key issues around investing so that the Africa that emerges from the pandemic is stronger than the one that went into it. The Head of Research added that Chinas role as an investor in Africa had been much more politicized in recent years. stressed that rolling out biometric IDs is vital for future programs. The factors that made Africa an attractive investment destination pre-Covid are still there: a talented youthful population; a three-trillion-dollar continental free trade deal; low-cost manufacturing opportunities; and an improving business environment and macroeconomic governance. Big data is one of them. The pandemic led to a massive increase in investment into digital services and tech-enabled solutions. Addison said that the issue of reaching double-digit inflation is a pressing one as last years inflation was in single digits. However, power is required during the day to run mills, for example. In guided sessions, midcareer professionals are using ketamine to seek improved professional performance and better work-life balance. Africa is quickly becoming one of the business world's most supercharged areas, with a burgeoning startup scene, expansive infrastructure projects, and capital pouring in from across the world. Even though the pandemic put the brakes on social and economic progress in Africa, as the continent rebuilds, it has a chance to pursue a growth path that is responsible, inclusive and sustainable. They were really looking at the difference. , CEO of Rand Merchant Bank said renewable energy, telecom and port infrastructure will be key growth areas to rebuilding South Africas economy. We have X. But while Africa is down, it's definitely not out. Maher Jarmakani, Chairman and CEO, Nigerdock and Sergio Pimenta, Regional Vice President for Africa, IFC discuss Africa's infrastructure gap with Bloomberg's . That was a very lively conversation that actually brings us to our next topic, which is the Africa Tech Space. a DJ. And defenders need SUVs for mobile travel. Access to reliable electricity is more important than ever due to a growing reliance on technology for work, education and e-commerce. At Bloomberg Invest: Focus on Africa, we discuss actionable solutions for Africa to reimagine its future. Theres no other option., insisted that those with jobs should be grateful and that A 30% cut in their salaries is nothing compared to the dire circumstances in which we find ourselves., also responded to the uproar he caused by asking if his country needs a national airline on Twitter. Then it shows the market seems to be dead. is that the companies began delivering successful platforms that attract users, offering concrete value propositions. By the end of the rollout, every Togolese with a biometric ID will have a mobile banking account as well, Lawson added. This, with a decline in government revenues as economic growth stalled, added pressure to a region already saddled with massive debt. Yemi Lalude, the Partner, Head of Africa at TPG Risesaid hes been waiting for a time like this. admitted that the pace of reform has been slow, but reassured that: The president has made it clear that its all about implementation, implementation, implementation. Gregory Smith, Author, Where Credit is Due Key Takeaways from Bloomberg Invest Africa - Day 1 Henrique Almeida, Breaking News Reporter and Editor for Bloomberg in Western Europe, Bloomberg, 7:15 PM BST In Conversation with Addressing Investors Concerns and Discussing Opportunities PDF Bloomberg Invest: Focus on Africa But the perception out there is still The world must come together to discuss Africas recovery and how to finance its needs.At Bloomberg Invest: Focus on Africa, we discuss actionable solutions for Africa to reimagine its future. But while Africa is down, it's definitely not out. I think the You have seeds you have tractors you have our capital. So we have demonstrated that you can manage Events | Bloomberg Live Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. take the right steps and ensure that you have your partners who are on the same page as. The payments reached a quarter of Togos adult population, and the government determined the beneficiaries through a pair of AI algorithms. Digital marketing specialist(SEO,Social media ads ,google ads,and Email marketing ? bigger than now are hard currency. share a little bit more with the audience. Nyeko explained that this process could generate enough energy to power up an entire village, and if that village happens to be many miles away from the power grid, the process is invaluable to the local community. And we are logistic hub for the region. Vctor Francisco dos Santos Fernandes, Minister of Industry and Commerce, Republic of Angola London . Two aspects. The factors that made Africa an attractive investment destination pre-Covid are still there: a talented youthful population; a three-trillion-dollar continental free trade deal; low-cost manufacturing opportunities; and an improving business environment and macroeconomic governance. Smith said that debt crises are pressing matters that can arise from a number of issues, including revenue problems, export issues, and investment problems. The question is Africa wants to Today, the war against the aggressor is being waged by electronic means. Cina Lawson, Minister for Digital Economy, Togo And there is Africa. UK longterm renewables focus as Africa seeks gas funding We're not talking about region. When. There were six countries that forms a market of 600 300 media and people come together and say Even though the pandemic put the brakes on social and economic progress in Africa, as the continent rebuilds, it has a chance to pursue a growth path that is responsible, inclusive, and sustainable. The average annual cost of raising a child in America is nearly $21,000, according to a new study. When we talk about opportunity just in the few seconds that we have in Google is joining forces with Kenyas largest telecoms operator, Safaricom, to get more 4G-enabled smartphones in the hands of Kenyans. What will it take for investors to deploy their capital in Africa? The only daily news program focused exclusively on technology, innovation and the future of business from San Francisco. They're not their in parliament and bring certainty about markets and manage microeconomic. We don't want that. Theres no other option. Mboweni insisted that those with jobs should be grateful and that A 30% cut in their salaries is nothing compared to the dire circumstances in which we find ourselves.. In order to really grow now, we need fiber infrastructure, which is fixed-line infrastructure, Lawson replied, And in order to invest in fixed-line infrastructure, we need the governments to participate.. On procuring a vaccine for everyone: In discussing how the continent has organised itself through the African Union in preparation for a possible vaccine, Dr. John Nkengasong, Director, Africa CDC talked about a strategic plan with 3 pillars. A sharp increase in the number of Unicorns in Africa. , the Regional Head, Client Coverage Corporate, Commercial & Institutional Banking Africa & Middle East at Standard Chartered Bank, said that while the pandemic didnt affect Africa as badly as some other parts of the world, it made it glaringly obvious that some of the core aspects of health infrastructure across the continent are very weak. So every country has come out with what it's good at. So the question is when it comes to private sector regardless of ideology. India's Top Oil Explorer Plans $12 Billion Green Energy Spend Seen Kigali in June where if I die FC and the World Bank group saying this is a credible plan we shall support If certain things dont happen, hes made it clear that heads will roll.. Specifically, the citizens will get a SIM card and a mobile banking account. lack of legacy systems. . Bloomberg Live brings together the expertise of the largest newsroom in the world with the immense data and analytical power of Bloomberg Intelligence and Bloomberg Global Data to enable our celebrated moderators and speakers to produce compelling, news-making conversations. Lawson pointed out the tool was developed swiftly during the Covid-19 pandemic as a means to transfer funds to the poverty-stricken parts of the country. pointed out that returning humanitarian investments to pre-pandemic levels is one of the governments crucial goals. Events And where does sort of crypto play into long term strategy for you and your